Nation Crime 25 Sep 2021 Committee to dispose ...

Committee to dispose, disburse assets of Sun Pariwar fraud

DECCAN CHRONICLE. | DC CORRESPONDENT
Published Sep 25, 2021, 1:14 am IST
Updated Sep 25, 2021, 7:11 am IST
The committee discussed on issues related to auction of movable and immovable properties and modalities to be followed in thier auction
The committee fixed timelines for each task and decided to meet every week to meet the court’s four-week deadline.  — Representational image/DC
 The committee fixed timelines for each task and decided to meet every week to meet the court’s four-week deadline. — Representational image/DC

Hyderabad: Three years after the Rs 150-crore Sun Pariwar multi-level marketing (MLM) fraud was unearthed, the victims got one step closer to justice with the Cyberabad police constituting a committee, following a court order, to look into the disposing of and disbursing the assets of the company on Friday.

The committee meeting was presided over by Cyberabad police commissioner M. Stephen Raveendra and judicial officer Ramesh Babu and attended by Cyberabad DCP Crimes Rohini Priyadarshini, DCP Economic Offences Wing (EOW) Kavitha Dara, inspector Bhaskar.

 

The committee discussed on issues related to auction of movable and immovable properties and modalities and procedures to be followed in thier auction, enlisting deserving depositors and developing a transparent system to conduct public auction and distribute the amount to the depositors.

The committee fixed timelines for each task and decided to meet every week to meet the court’s four-week deadline. The commissioner directed the committee to submit periodic progress reports to the court.

On December 15, 2018, Cyberabad police arrested Ravinder, a government teacher-turned CEO of Sun Pariwar, and company director P. Mounika for allegedly defrauding about 1,500 victims by offering an investment scheme that offered over 6 per cent monthly interest.

 

At the time of the arrest of the accused, the then Cyberabad commissioner V.C. Sajjanar said that the accused had defrauded the victims of  Rs 150 crore.

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Location: India, Telangana, Hyderabad




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